Chevron Co. (NYSE:CVX) Shares Purchased by Columbia Asset Management

Columbia Asset Management raised its holdings in Chevron Co. (NYSE:CVX) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,613 shares of the oil and gas company’s stock after purchasing an additional 3,392 shares during the period. Chevron comprises approximately 1.1% of Columbia Asset Management’s holdings, making the stock its 25th largest holding. Columbia Asset Management’s holdings in Chevron were worth $5,883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. American Capital Advisory LLC boosted its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth about $30,000. Anfield Capital Management LLC grew its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC bought a new stake in Chevron in the fourth quarter valued at about $40,000. Finally, Clear Investment Research LLC raised its stake in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.8 %

Shares of Chevron stock opened at $140.95 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business’s fifty day moving average price is $151.18 and its two-hundred day moving average price is $155.37. The company has a market capitalization of $257.79 billion, a P/E ratio of 12.97, a PEG ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.08 earnings per share. As a group, research analysts forecast that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Mizuho increased their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.